US GDP for Q1 falls significantly below expectations, causing the dollar to rise and US stock futures to plummet.

On Thursday, US stocks released a series of economic data including GDP.

The data showed that the US economic data was poor, and US stock futures fell in the short term, while the US dollar rose.

Poor Q1 GDP

The initial annualized quarterly rate of actual GDP in the United States in the first quarter was 1.1%, with an expected value of 2.00% and a previous value of 2.60%.

The initial quarterly rate of actual personal consumption expenditure in the United States in the first quarter was 3.7%, with an expected value of 4% and a previous value of 1%.

The number of initial jobless claims in the United States as of April 22 was 230,000, with an expected value of 248,000 and a previous value of 245,000.

The initial annual rate of core PCE price index in the first quarter of the United States was 4.7%, with a previous value of 4.8%.

The initial annualized quarterly rate of PCE price index in the first quarter of the United States was 4.2%, with a previous value of 3.7%.

The slowdown in US economic growth in the first quarter exceeded expectations, due to tepid business investment and a drop in inventory that suppressed the rebound in consumer spending.

CNBC commented: In the first three months of this year, US economic growth slowed sharply, mainly due to rising interest rates and inflation. It is generally expected that the US economy will further slow down in the future.

US stock futures plummet

After the data was released, US stock index futures fell in the short term, with Nasdaq futures narrowing their gains to 0.82%, S&P 500 index futures narrowing their gains to 0.41%, and Dow futures now up 0.43%.

The yield on the US 10-year Treasury note rose 5.30 basis points to 3.483%.

The US dollar index DXY continued to rise, with a short-term increase of nearly 40 points, now reporting 101.65.

The short-term decline in spot gold expanded to $17, with a low of $1,986.66 per ounce.